A Global Business Category 1 Company (GBC 1) is a tax resident company in Mauritius and enjoys benefits under the extensive Double Taxation Avoidance Treaties (DTAs) network of Mauritius. It is liable to pay tax at the rate of 15% on all its income subject to the provisions of the DTAs. However a GBC 1 is granted relief on the amount of tax payable by way of tax credit of 80% of the tax payable. The relief may be increased to 100% depending on the amount of tax paid by the company elsewhere.
The main characteristics are:
- Approval of FSC is required
- Resident directors, secretary, auditors and bankers are required
- Audited accounts must be filed with FSC
- Tax is payable at the effective rate of 3%.
- Tax residency certificate has to be obtained in order to make use of double tax treaties.
- No withholding tax on payment of dividends and interests.
- No capital gains tax, estate duty or inheritance tax.
- Concessionary personal tax rate for expatriate employees.